The 87-91 regular model 740's had the M47 true 5-speed available.
1992's were made for the US, as all 940's, only with automatics.
The turbo models all had the M46 4-spd+OD transmission, and as I'm sure you're aware, are a pretty rare car in this country.
The M47 can be mounted to an M46 equipped car with relatively little difficulty- if you consider removing a transmission not difficult. Supposedly it's not as strong as the M46. In a normal Turbo, it's probably fine. IF the engine were modified, it may be best to stick to the original, tough M46.
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Rob Bareiss, New London CT ::: '87 244DL/M47- 225K, 88 744GLE- 209K, 91 244 183K. Also responsible for the care and feeding of: 88 745GLE, 229K, 88 244GL, 146K, 87 244DL, 235K, 88 245DL, 236K
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